Serious question for you guys

UpTiTe
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UpTiTe
Edited Date/Time 1/24/2012 1:22pm
Would you buy a triplex for $20,000 that brings in 900 a month? If you get a 5 year note, after insurance and taxes you would have around 550 to 600 in positive cash flow with out maintenance cost. The catch is that you will have to carry a 9mm with you to pick up your rent because of the area.

Any takers?
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huck
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huck 10/15/2008 1:32pm
10/15/2008 1:32pm
Good luck trying to evict people for not paying their rent...


Rooster
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Rooster 10/15/2008 1:41pm
10/15/2008 1:41pm
UpTiTe wrote:
Would you buy a triplex for $20,000 that brings in 900 a month? If you get a 5 year note, after insurance and taxes you would...
Would you buy a triplex for $20,000 that brings in 900 a month? If you get a 5 year note, after insurance and taxes you would have around 550 to 600 in positive cash flow with out maintenance cost. The catch is that you will have to carry a 9mm with you to pick up your rent because of the area.

Any takers?
That's better than a 50% a year ROI if you paid cash.

Sounds too good to be true. You know what they say about things that sound too good to be true.
txmxer
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txmxer 10/15/2008 1:48pm
10/15/2008 1:48pm
huck wrote:
Good luck trying to evict people for not paying their rent...


I think that's what the 9 mm is for...
jay_547
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jay_547 10/15/2008 2:41pm
10/15/2008 2:41pm
huck wrote:
Good luck trying to evict people for not paying their rent...


yep, it's weird to have someone tell you to your face, that they are not moving out of the house that you own and they are not paying rent for.

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P
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P 10/15/2008 2:49pm
10/15/2008 2:49pm
UpTiTe wrote:
Would you buy a triplex for $20,000 that brings in 900 a month? If you get a 5 year note, after insurance and taxes you would...
Would you buy a triplex for $20,000 that brings in 900 a month? If you get a 5 year note, after insurance and taxes you would have around 550 to 600 in positive cash flow with out maintenance cost. The catch is that you will have to carry a 9mm with you to pick up your rent because of the area.

Any takers?
In cali??? Can people even live in it???


P
UpTiTe
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UpTiTe 10/15/2008 3:02pm
10/15/2008 3:02pm Edited Date/Time 10/15/2008 3:02pm
No not Cali, its in a different state. And yes people live in it.
goat breker
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goat breker 10/15/2008 4:05pm
10/15/2008 4:05pm
900 a month times 12 is 10800, times 2 is 21600. add a zero is 216,000, thats what the building should cost. roughly. thats how you figure it roughly............so 200k is the right price
Tiki
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Tiki 10/15/2008 4:54pm
10/15/2008 4:54pm
UpTiTe wrote:
Would you buy a triplex for $20,000 that brings in 900 a month? If you get a 5 year note, after insurance and taxes you would...
Would you buy a triplex for $20,000 that brings in 900 a month? If you get a 5 year note, after insurance and taxes you would have around 550 to 600 in positive cash flow with out maintenance cost. The catch is that you will have to carry a 9mm with you to pick up your rent because of the area.

Any takers?
P wrote:
In cali??? Can people even live in it???


P
Cali, Columbia.

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